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Singapore Pushing For Reopen

SGD

Singapore dollar has weakened, pushed higher by a stronger greenback. USD/SGD last up 17 pips at 1.3566. The pair still sits some way below the October high at 1.3627, while the 2021 high is at 1.3693 hit in July. The pair currently sits on a 23.6% retracement level, while below support is seen at the 50-DMA at 1.3523.

  • Singapore has reiterated plans to open travel lanes for vaccinated travellers, there are plans to open with the US and the UK next week, while South Korea will follow in November and officials are now working on agreements with Australia, New Zealand and Japan.
  • Markets await the MAS policy announcement on Thursday while the Q3 advance GDP print will also be released.

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